My Marketing Sucks... Where Do I Start?

Many organizations' marketing efforts either do not exist or produce sub optimal results. There are many reasons for this.  For purpose of this post, we will start by looking at what organizations should to if their marketing efforts consist of hiring sales representatives and hoping that they have a book of business and can close deals.  Unfortunately this is a common practice and most often ends with a couple of superstar sales reps staying with the company for years and the rest falling to the wayside.

Any company (whether new or not) that does not have a real marketing department needs to start by doing 4 things:

• Identify what industry will best be able to find benefit in their product
• Identify the best list of target companies that can afford to buy the product
• Identify who within the target companies will use the product
• Define the most cost effective strategy of communicating value to the final user

Notice that I use certain words, like value, benefit, user.  Marketing is about communicating value.  Business is about providing additional value to a user.  No one will buy a product if they do not see an additional value or benefit for using it.  Great product capabilities, or functionality is not enough.  Google+ is an example that is very relevant.  Google+ offers a number of features that Facebook does not, but so far most people are not deactivating their Facebook accounts for Google+.  The issue of creating and communicating value is the most important issue to understand and master in marketing.  It doesn't matter if you are cold calling, spamming or going door-to-door, you have to provide additional value to the potential customer and communicate it well.  

The next thing on the list is identifying what industry your product will fit in the best.  If your company makes widgets designed for hospitals you may not want to be marketing to the Automotive industry. (Okay, that was an extreme example, but the lesson is the same).  Finding these markets, verticals or targets is not always easy.  I worked for a company that offered so many different software packages that it was very confusing.  Package A, with Feature D&M were best for Industry A, but Package D with Feature A&Z was best for Industry K - huh?

This was so complicated that the majority of the time the Lead Generation Reps would call a company on their list and try to talk to executives on a cold call to try and learn what they were looking for, and then find that package that best fit them - this is putting the cart before the horses!  A better way is to have a clearly defined list of features aligned with industry pains and trends.

Make no mistake about it, finding and understanding these pains and trends are extremely difficult and aligning them to your product is also hard.    If you are a small firm and just starting, you probably have an idea already and the next exercise can help to materialize what you and your team have in your heads into usable knowledge.  The Five Product Levels consists of the following levels:

1. Core Benefit:  What is the most basic benefit that my product offers?
2. Basic Product: What is the most basic form of my product that produces the core benefit?
3. Expected Product:What does the buyer expect from the product?
4. Augmented Product: How does the product exceed the expectations of the user?
5. Potential Product: What could our product be in the future?

These questions can give you a start.  Translating the answers into marketable material will take a little bit of creativity.  There are so many channels to use to push you value proposition to the world that is daunting at times.  My advice is choose one (or two), and master that.  Make sure it is measurable and produces results - quickly!  If your product is truly complicated, in a big-boy industry and selling to corporate giants cold calling can work. Just be sure to train your lead generation reps to get an interested contact on the phone with a knowledgeable and experienced sales rep as soon as possible.  Email marketing may work if you are smaller, but I would not start sending spam to corporations - their firewalls are too good to produce results.  Webinars can be fun, but it is really hard to make sure you have the right people there unless you cold call and personal invite each one.  Doing that, negates the need for a webinar because if there is any interest it is better to do a personalized one.

So, true to the nature of business, there are always more questions than answers.  Good executives are good, not because they have all of the answers, but because they can find them and figure out complex problems.  If your marketing sucks your activities and value proposition is most likely not aligned with what the market is looking for.  Figure that our (Product, Market Need, Value) and then realign and your results will improve.  If they don't, you should be working in marketing.

The Right to Win!

A while back I read an article by Booz & Company called The Right To Win.  Although this company, website and magazine is geared towards business, I thought that this was an interesting concept for personal application as well.  Similar to Cheshire's point in his last post - Anonymity  - The Right to Win is more about being relevant and a leader than it is about winning.  The idea of marketing ourselves is not a new one and it is a skill that everyone has (or needs to develop).  Without it, none of us would have the jobs that we currently have - we sold our skills, experiences and personalities to the hiring managers of where we work.

The Right to Win theory goes a lot further.  When we compete against other businesses, applicants, or any other form of competition for that matter, the best product or person doesn't always win.  Remember back to the SuperBowl XLII.  Sorry everyone, The Giants were not the better team.  They played better that day, but were not the better team.  Their strategy going into that particular game, coupled with their flawless execution gave them The Right to Win that day, the only day that mattered.  (Yes, I am a Patriots fan)

Gaining The Right to Win takes vision, determination, strategy and flawless execution.  Knowing where you would like to be in 5, 10, 15 or 20 years helps you to work on gaining the skills you will need to place yourself in the best position for success.  A lot of people believe that they already have this right due to some sort of entitlement from birth, or a specific degree from a specific institution   Although these things do help to achieve goals and increases your odds of winning, they do not entitle you to The Right to Win.  In this global economy The Right to Win can only be achieved by matching your skills perfectly  with what someone is looking for.

This is true on a personal and business level.  Your product can only have The Right to Win is you find a potential customer that has the exact features your product offers.  This does not mean that you should add more features (or personal skills), but instead it means that you should focus your features and skills on the exact market that is looking for exactly what you have to offer.  Remember, the essence of strategy is lies in what you don't do..... This gives you The Right to Win!